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The state wants to buy my house?
The state wants to buy my house, but I don't want to move. Do I have to sell it to them? I also think I could get more for my house than what the state is offering me. Do I use a real estate agent to negotiate for me? Or do I get a lawyer? It doesn't seem right that they can just take my house and lowball me.
Asked By Barrett | i don't know, FL | 338 views | Finance Legal Info | Created 10 months ago
Answer(3)
Louis Parrish
United Real Estate Specialists
I have represented several clients over the last 29 years who sold to the state. Some of the situations were imminent domain where the state required the owner to sell. Others were voluntary instances where the state wanted the property but did not have the right to take it. In imminent domain circumstances, the state is required to pay "fair market value." That can be subjective and in both imminent domain and voluntary sales cases, I recommend representation. That might involve a Realtor and/or an attorney and may vary from state to state.
- 9 months ago
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Amanda Courtney
REP Realty Group
If the state wants to buy your house, it’s usually part of a public project such as road expansion or utility work. This process is called eminent domain. You do have rights, including the right to receive fair market value and the ability to challenge the offer if it seems too low. It’s wise to speak with a real estate agent familiar with government acquisitions or an attorney who can help negotiate fair compensation and protect your interests.
- 3 weeks ago
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Arlene Modarelli
Fathom Realty
I would speak to an Attorney to help you navigate this complex process. Did the State give you documents to sign, if so bring all forms and documents to you the meeting with the attorney.
- 8 months ago
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